PCS’s Transformation Journey (2023–2026): From transforming the governance model to building the organisation’s adaptive capacity.

Ms. Lê Thị Thu, Chair of the Board of PCS Group, has worked with Teal Unicorn for years, in their Logistics, Post, Courier and other businesses, and the parent group.

This year, she tells the story of their recent group transformation:

In many businesses, revenue growth is always seen as a measure of success. But what happens when the biggest source of revenue becomes the biggest risk to the future of the business? That is the strategic question that PCS Corporation faced after the Covid-19 pandemic and was the starting point for our transformation journey.

It didn’t start with changing products or technology, but by changing the way decision-making is organised. In a volatile market, the competitive advantage no longer lies in the rate of growth, but in the ability to learn and adapt faster than the changing market.

In 2023, PCS had revenue of about VND 388 billion [EUR 13 million, CNY 1 billion], with more than 320 employees. The business was formed from three pillars:

• PCS Courier: 184 billion VND, serving B2B business customers.
• PCS Transonline: 182 billion VND, serving B2C customers importing international goods.
• PCS Logistics: 22 billion VND, focusing on logistics and domestic transportation.

Although the business results remained positive, the Board of Directors recognised an important fact: revenue no longer provides a good growth model. The B2C segment increasingly relied on hard-to-control factors such as import policies, cash flow management, and price competition, while B2B customers offered more stable cash flow and long-term collaboration.

From there, PCS changed the governance question. Instead of asking “How to increase revenue?”, we began to ask “What revenue streams are worth investing in for the future?” It’s not just a business decision; it’s a shift from a growth mindset at scale to a sustainable value creation mindset.

Transformation starts with administration

Instead of restructuring the product, PCS chose to restructure the way we made decisions. From 2023, businesses implemented an Open Management model of agile management: streamline intermediate management layers, empower Micro Teams, and be transparent throughout the system. Decision-making power is brought closer to the customer, helping teams react faster to market demands and take direct responsibility for the results. [Open Management is the approach developed by Teal Unicorn, derived from global best practices in modern agile management https://tealunicorn.com/om/ . Dr Cherry Vu coached Thu and her leaders, and worked with the people across all business units.] The role of the leader also changes, from the controller to the creator of the environment for the team to learn, experiment and make decisions quickly.

Looking back, the biggest change is not the organisational structure but the speed of decision-making and the adaptability of the entire system. It was the foundation for the strategic decisions that PCS made in the next phase: the ability to make difficult decisions before the market forces the business to change.

In 2025, PCS cut about 70% of B2C services, although this is still a major revenue contributor of the system. Resources were reallocated to B2B business customer development and integrated logistics solutions. PCS Transonline’s revenue decreased to VND 76.9 billion, down 42.2% compared to 2023. This was not a decline of the business, but the result of a strategic choice: sacrificing short-term growth to build a long-term development foundation.

In parallel with this shift, PCS also changed the way we create value for customers. Instead of providing standard logistics services, we work with our customers to design solutions that are tailored to each industry, business model, and supply chain. It is this approach that has helped the number of corporate customers increase from 100 customers in 2023 to more than 300 customers by June 2026, with many strategic customers such as VinFast, MG, Hoa Phat, Kim Viet, VNDIRECT and Vietnam Airlines.

Value created for customers

What PCS pursues is not to sell more services, but to create more value for each customer. When the decision-making power is given to Micro Teams, solutions are designed to be faster, more agile, and closer to actual needs. Customers not only buy a logistics service but also choose a partner to accompany them in optimising the supply chain and improving competitiveness.

Value created for people and organisational culture

PCS also recognises that it is impossible to create an excellent customer experience if the team is not developed in an environment of trust and transparency. All employees participate in building goals, proactively propose solutions, and take responsibility for the results. The salary system based on the ShuHaRi philosophy, the profit-sharing mechanism, and the opportunity to own shares all help the value of each individual’s contribution to be recognised more fairly. [ShuHaRi as used by Teal Unicorn is the technique for modelling team skills https://tealunicorn.com/our-shu-ha-ri-technique/  ]

More importantly, the transition has formed a culture of collaboration and continuous learning. From functional completion, the team moves to creating value, supporting each other, and taking responsibility for the common goals of the organisation.

Results of changes

Changes in management were quickly reflected in business results. In 2025, PCS Group achieved VND 353.8 billion in revenue [down slightly due to consolidation] but the highest profit after tax since its establishment, while the staff numbers were streamlined to about 260 people [down from 320].

PCS Logistics became a new growth engine with VND 96 billion in revenue, up 72%, profit up 124% compared to the previous year. The growth driver no longer comes from individual customers but from corporate customers, industrial logistics, fulfillment, and integrated supply chain solutions.

For PCS, the biggest outcome is not the growth of a business unit. The biggest result is that the business has shifted from a revenue-driven model to a model that creates sustainable value for customers, people and organisations.

[“Hackathon” as used by Teal Unicorn is a technique for improvement workshopping https://tealunicorn.com/insertpage/work-hack/]